Galaxia Communications Co., Ltd. (KOSDAQ:A094480) announced a private placement of first unregistered coupon unguaranteed unsecured private convertible bonds with YG Entertainment Inc. for gross proceeds of KRW 10,000,000,000 on May 29, 2015. The zero coupon bonds will mature on June 2, 2018; will have lump-sum redemption of principal on maturity date for the bonds. The bonds will have yield to maturity of 3%.

The bonds will be 100% convertible into shares of the company at a fixed conversion price of KRW 6,687 per share from June 2, 2016 to May 2, 2018. The bonds will be issued at par.